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The Latest Breaking News from Inflation

Tax cuts to cost $11b more than estimate

The federal treasurer says the controversial stage three tax cuts will cost billions more than previously thought as the government faces calls to scrap them.

AAP

Why the federal government should join the Fed in the inflation fight

Fiscal policy is missing in the battle against rising prices.

Axios

4 Stocks That Have Taken a Turn for the Worse in 2022

The Fed’s hawkish stance on inflation has raised the likelihood of a recession in the near term. Fundamentally weak stocks Marvell Technology (MRVL), Plug Power (PLUG), Riot Blockchain (RIOT), and Timber Pharmaceuticals (TMBR) have plummeted this year and might witness further downside. So, these stocks could be best avoided now.…

StockNews.com

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2 Industrial Stocks to Avoid or Sell Short Until Further Notice

While demand remained steady, the industrial sector is facing increasing headwinds such as inflation, interest rate hikes, and persistent supply chain disruption. Amid this, we believe fundamentally bleak industrial stocks, Plug Power (PLUG) and FuelCell (FCEL), might be best avoided or sold short. Read on.

StockNews.com

Like ‘two separate elections.’ How abortion and inflation have taken over California political ads

LOS ANGELES — The congressional election ads bombarding Californians show a sharp dichotomy in priorities — Democrats are laser-focused on abortion access, while Republicans zero in on inflation.

Los Angeles Times

IRS ups standard deductions, tax brackets due to inflation

Taxpayers will get fatter standard deductions for 2023 and all seven federal income tax bracket levels will be revised upward as the government allows people to shield more of their money from taxation because of persistently high inflation

The Independent UK

What is the triple lock and what impact does it have on pensions?

PRIME Minister Liz Truss has said she and her Chancellor remain “completely committed” to the triple lock on pensions.

The National (Scotland)

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Jeremy Hunt ignored call from Liz Truss begging for help because he thought it was prank

The top Tory was on holiday with his wife and children in Belgium - and is thought to have laughed out loud when he got a text saying ‘Jeremy, it’s Liz Truss , please call urgently’

Daily Mirror

States with poor climate policy ‘overlap’ with those seeking to limit rights, Kamala Harris says

SAN FRANCISCO — After a summer of national and global climate devastation, Vice President Kamala Harris made a stop at the Cowell Theater on Tuesday to tout Democrats’ progress on climate policy just weeks before the midterm elections.

Los Angeles Times

Campaigners urge Government to raise benefits in line with inflation now to protect poorest families

There are fears that many face a grim winter unless action is taken before next April

Wales Online

Climber Who Competed Without Her Hijab Apologizes as Protests Continue To Rock Iran

Plus: Bite mark analysis is a sham, tax code adjusted for inflation, and more...

Reason

Is inflation affecting travel points and miles?

Inflation has made the cash prices of flights and hotel stays skyrocket this year, but it’s having a surprising effect on a different currency — your airline miles and hotel points

The Independent UK

3 Stocks Delivering Strong Results in 2022 to Buy Now

The central bank might deliver another big rate hike next month to tame the persistently high inflation. However, the corporate earnings season has been gearing up investors’ sentiments. We believe fundamentally sound stocks Bristol-Myers Squibb (BMY), Energy Transfer (ET), and Kroger (KR), which have consistently reported strong financials this year,…

StockNews.com

ASOS planning to open shop on the high street to sell clothes at a discount

Online-only clothes retailer ASOS could open a pop-up store to sell out-of-season clothes at a steep discount, as the firm announced big losses due to the cost of living crisis

Daily Mirror

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Daily Record

How soaring inflation will affect your household budget and spending this winter

Inflation surged back to 40-year high of 10.1% in September after food prices soared.

Liverpool Echo

Amount your State Pension could be cut by in April by Liz Truss despite triple lock rise

The pressure is on for Prime Minister Liz Truss to ensure that pensioners are not worse off

Manchester Evening News

Bosses in a pickle at Branston as workers strike outside Middleton HQ

Staff say they are being offered a 'real terms pay cut'

The Guardian - UK

UK motorists count cost amid rise in price of car parts, repairs and servicing

Three drivers and a garage owner explain how rising costs have affected prices

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StockNews.com

Rising Inflation Keeps Pushing This EV Stock Further off the Road

Electric Vehicle (EV) maker Lucid Group (LCID) failed to translate its top-line growth to bottom-line improvement in the second quarter of fiscal 2022. While the company mentioned strong demand for its offerings, chip shortage, material price inflation, and supply chain challenges might weigh on its growth prospects. Shares of LCID…

Evening Standard

The Standard View: The Chancellor’s priority must be to get inflation under control

Political crisis and economic hardship often go hand in hand. Today, as Westminster watchers turn their attention to Prime Minister’s Questions, millions of families across the country are counting the cost of higher prices.

Daily Record

Liz Truss 'committed' to pensions triple lock just day after No10 indicated it could be ditched

The Prime Minister told MPs at PMQs earlier today that she and Chancellor Jeremy Hunt will be increasing pensions in line with inflation.

Daily Record

Full State Pension payments could rise to £203 each week from next April under Triple Lock rule

Prime Minister Liz Truss confirmed the UK Government's commitment to the Triple Lock rule during PMQs on Wednesday.

The Independent UK

Liz Truss contradicts Chancellor by announcing pensions triple lock will stay

But prime minister refuses to make similar commitment to avoid real-terms cuts to benefits

Manchester Evening News

How rising inflation could impact pensions as PM says she is 'completely committed' to triple lock

Inflation has soared back to double digits which will result in economic consequences

Daily Record

Good Morning Britain's Susanna Reid left embarrassed after phone blunder live on air

Addressing viewers, Susanna continued discussing the news that inflation has now risen to 10.1% but the broadcaster was interrupted by her phone.

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